June 2021
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June 2021
Summary
Numbers and figures
Investing in Shandong
Latest World Economic Outlook growth
China's Small Company Tax 2.5%
projections
Investing in Jiangsu
China international trade in 2019 and
IMF confirms China's record growth
2020
Investing in Guangdong
News
Events
Hainan: space base, freeport, and consumer expo Yuan global currency Investing in Zhejiang VAT and duties changes for China's steel industry
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June 2021
Numbers and figures
News
Latest World Economic Outlook growth
Hainan:
projections
consumer expo
Annual percent change real GDP
China arrived on Mars with the Tianwen-1
Source: World Economic Outlook, April 2021, International Monetary Fund.
mission, which landed on May 15 on the red
Region World United States Euro Area Germany France Italy Spain Japan United Kingdom Canada China India ASEAN-5 Russia Brazil Mexico Saudi Arabia Nigeria South Africa
2020 -3.3 -3.5 -6.6 -4.9 -8.2 -8.9 -11.0 -4.8 -9.9 -5.4 2.3 -8.0 -3.4 -3.1 -4.4 -8.2 -4.1 -1.8 -7.0
2021 6.0 6.4 4.4 3.6 5.8 4.2 6.4 3.3 5.3 5.0 8.4 12.5 4.9 3.8 3.7 5.0 2.9 2.5 3.1
space
base,
freeport,
and
planet and departed from the Wenchang space
2022 4.4 3.5 3.8 3.4 4.2 3.6 4.7 2.5 5.1 4.7 5.6 6.9 6.1 3.8 2.6 3.0 4.0 2.3 2.0
base on the island of Hainan. The island province is increasingly vital in Beijing's strategies: technology, space research, free trade, luxury tourist destination, and free port to
promote
consumption
and
test
new
investments.
During
2020,
with
its
borders
closed
to
international travel, Hainan has become the leading Chinese luxury tourism destination. It is generating the most significant turnover in the world in local stores of major international brands. In 2021, China organized the first consumer fair, right on the island of Hainan in the capital city of Haikou. The China International Consumer Products Expo was scheduled from 7 to May 10 by the provincial government and the Ministry of Commerce to promote the Hainan project as a new free trade zone.
China international trade in 2019 and 2020 Source: UNCTAD, China Customs
According to Xinhua, the fair saw the participation
2019
Amount
World %
Growth
(USD bn)
(percent.)
(percent.)
Exports
2,499
13.1
0.5
abroad, and Italy participated with more than 50
Imports
2,078
10.8
-2.7
brands, including Armani, Valentino, Sergio
2020
Amount
World %
Growth
(USD bn)
(percent.)
(percent.)
The fair featured yachts, high-end products,
Exports
2,591
14.7
3.6
clothing, cars, and every main consumer product.
Imports
2,056
11.5
-1.1
During the Expo, the Hainan Design Week of
of 2,500 brands, including over 1,300 from
Rossi, Etro.
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November 2021 was announced, with Italy as a
Economic activities that will guarantee an added
partner country. It estimated that over 100,000
value produced locally of at least 30% in the
visitors would be in the city by Haikou.
processing of goods will also ensure zero duties
The province was launched as a Free Trade Port
on imports from Hainan to mainland China.
and aimed to liberalize and facilitate trade, investment, international financial transactions to
Taxation for highly skilled, talented foreign
become a model free trade area.
managers
and
professionals
is
15%,
guaranteeing the most advantageous individual China has built its growth with long-term strategic
tax regime in mainland China.
plans, accurately calculating sectors, regions, and methods ideal for its development. The
Hainan is adjacent to Guangdong, the province
investment plan in Hainan province confirms
with the highest population and GDP in China. In
Beijing's attention to the entire area, which
2020, the province of Hainan recorded a gross
includes the southern provinces, and the sectors
domestic product exceeding 553 billion yuan (80
promoted in the development of the island are:
billion dollars), equal to the economy of Sri Lanka.
high technology, tourism, agriculture, medical,
An increase during the pandemic period by 3.5%,
education, culture, logistics, construction, finance,
higher than the national performance confirmed
and energy.
at + 2.3% for China in 2020.
China has promoted the island as a new Free
Yuan global currency
Trade Zone from June 1 2020, with a long-term
The implementation of the fourteenth Five-year
project that will lead the entire province to be a
Plan (2021-2025) through which China decides
free port by 2025. The purpose of providing
future economic and political strategies is
preferential policies for cross-border investments,
approved on the occasion of the "Two Sessions"
lower taxation, and requirements for the simplest
of the Chinese People's Political Consultative
visas.
Conference and by the "National People's
Companies registered in the territory and active
Congress” held in March 2021.
in sectors incentivized by the government can benefit from an income tax rate of 15%, lower
The key issues include sustainable development,
than the ordinary rate of 25%. In addition, by 2025,
the dual-circulation strategy, promoting internal
the entire island will be duty-free, as is the case
consumption and the Belt and Road initiative,
for the Hong Kong Special Administrative Region.
attention to the environment, technological
Today, the special policies are tested in the
innovation, security and the role of the Chinese
Yangpu Bonded Port area and then extended to
currency. In relation to the yuan, the “Two
the entire territory of the island.
Sessions” confirms the objective relative to the
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June 2021
internationalization of the RMB, through weighted
the new Silk Road, with infrastructure projects
measures that aim to spread the Chinese
aiming to an increase of the trade flow from China
currency on foreign markets.
to the rest of the world. The Belt and Road
China has been awarded the role of second
initiative has among its lenders the Silk Road
largest economy after overtaking Japan in 2010
Fund and the Asian Infrastructure Investment
and, consequently, the United States, in terms of
Bank (AIIB) with projects that include the use of
GDP at purchasing power parity, in 2018. In 2019
RMB in many regions.
it was confirmed as the first economy in terms of trade and export volume while in 2020 Beijing has
Beijing first tested the use of its own currency in
overtaken Washington as a foreign investment
Southeast Asian markets and hypothesized with
destination. The economic acceleration is also
the African Union its use in the entire continent.
accompanied by a greater role of the national
In the domestic market, China has promoted the
currency: the yuan (CNY / RMB) or "People's
creation of 12 Free Trade Zones, from Hainan
Currency".
Island to the Lingang district, in the municipality of Shanghai; these Free Trade Zones serve to
In 2020 China trade in goods accounted for 4.646
test new fiscal and financial reforms including
billion and, even though the pandemic outbreak,
more efficient ways of converting and using
the total volume of trade increases by 1.5%
foreign currency. The best known among the
securing the country the role of first global trading
special administration regions of the People's
economy, this leads the currency to increase its
Republic of China, is Hong Kong, which has
influence, although it is not fully convertible and
always represented a robust pillar among the
negotiable on the markets.
financial markets of the world and in addition to the stock exchange, it counts on one of the major
Since 2016, the International Monetary Fund has
ports for exchanges and on the most widely used
included
further
hub for investments to and from mainland China.
accelerating the spread of the Chinese currency.
European countries have helped promoting the
China has pegged the yuan to the dollar in an
development of the largest yuan market outside
adjustable way. This floating peg has seen a
Hong Kong since they comprehended the trade
downward trend, implying that the yuan has
benefits of an increasing use of the Chinese
depreciated against the dollar, making Chinese
currency. In recent years, an average of 40% of
exports relatively more competitive against dollar
global yuan transactions have been authorized in
prices around the world.
Europe. The central role of the old continent in
the
CNY
in
its
basket,
economic relations with China is witnessed by the Among the strategies through which Beijing
special agreements in the 17 + 1 association,
promotes the global circulation of its currency is
which includes the Central-Eastern European
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June 2021
countries under the coordination of Beijing, by the
Zhejiang province accomplished 40.191 foreign
Comprehensive Agreement on Investments,
investment companies with total exports of USD
confirmed in December 2020, and by the number
334.6 billion and total imports of USD 112.6 billion.
of countries that have joined the Belt and Road
In addition to an average urban salary of USD
Initiative (including Italy, Luxembourg, Austria,
13.433.
Greece, Hungary). Despite the increase in global use, the yuan is still
In terms of GDP, the Province of Zhejiang ranked
limited by restrictions on capital flows and
fourth
currency control typical of the country. Therefore,
reaching USD 995 billion in 2020 and USD 896
the US dollar remains the reference currency and
billion in 2019 with a GDP per capita of USD
many Chinese projects are carried out in USD but
15.311. Along with GDP growth of + 6.8% in 2019
the growing trend of investments towards China
and +3.6% in 2020.
in
China
after
Shandong
province,
still promotes a greater use of the RMB. In fact, in 2020, Beijing surpassed the US in the number of
Main Economic Centers (GDP) in Zhejiang
Foreign Direct Investments and signed the
•
Hangzhou (USD 221 billion)
largest free trade agreement in the world; with the
•
Ningbo (USD 172 billion)
Regional Comprehensive Economic Partnership,
•
Wenzhou (USD 95 billion)
China enhances its role in trade and finance in
•
Shaoxing (USD 83 billion)
the world market.
•
Jiaxing (USD 77 billion)
Investing in Zhejiang
Main Sectors in Zhejiang
Zhejiang is an eastern coastal province of China.
•
Industrial machinery
Well-known for its entrepreneurial initiative. Also,
•
Textile
acknowledged for a strong concentration of IT
•
E-commerce
and High-tech companies as well as a strong
•
Automotive
presence of non-state-owned companies. The Province of Zhejiang is an important production
Main Industrial Areas in Zhejiang
and logistics hub providing a key manufacturing
▪
Zhejiang Pilot Free Trade Zone
center for the automotive, textile, clothing, and
▪
Hangzhou Economic and Technological
machinery manufacturing sectors. Hangzhou is
Development Zone
the capital and the largest city in Zhejiang. With a
▪
population of 58.5 million inhabitants covering a
Xiaoshan
Economic
and
Technological
Development Zone
total surface area of 101.800 km2, Zhejiang
▪
province ranks the 10th most populous among
Ningbo
Economic
Development Zone
China.
6
and
Technological
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▪
June 2021
Wenzhou
Economic
and
Technological
VAT and duties changes for China's steel
Development Zone ▪
Jiaxing
industry
Economic
and
Technological
and
Technological
The
Development Zone ▪
Pinghu
Yiwu
Economic
of
Finance
and
the
State
Administration of Taxation jointly issued on April
Economic
26th, the Announcement [2021] No. 16, “On the
Development Zone ▪
Ministry
Cancellation of Export VAT refund for Certain and
Technological
Steel Products” starting from May 1st, 2021.
Development Zone ▪
Hangzhou High-tech Industrial Development
The implementation of the new policy will
Zone ▪
Xiaoshan
increase Linjiang
High-tech
Industrial
cost
for
Chinese
steel products in the international markets. The
Ningbo High-tech Industrial Development
cancellation will affect goods belonging to 146
Zone ▪
production
exporters and consequently raise the price of
Development Zone ▪
the
different items classified in HS chapters 72 (Iron
Wenzhou High-tech Industrial Development
and Steel) and 73 (Articles of Iron and Steel).
Zone ▪
Zhoushan New Area
In addition, on April 27th, the Customs Tariff Commission of the State Council issued the
(Zhejiang) Pilot Free Trade Zone
Announcement [2021] No. 4 “On Adjusting the
Established in 2017 (expanded in 2020) known
Tariff of Certain Steel Products”, which will
as the Global center for trade of commodities.
guarantee a better supply of steel materials by
With a purpose to promote the integration and the
reducing the import duty rates of certain steel
development of the Yangtze River Delta and the
products starting from May 1st, 2021.
allocation base for commodities, oil and gas, and
In particular, the import duty rate for iron raw
build an international shipping and logistics hub. The
target
industries
are
materials and recycled steel is lowered to a
advanced
provisional rate of 0%
manufacturing industries, trade services, logistics, digital
economy,
commodities,
and
In 2020, China exported USD 33.4 billion of iron
energy
and steel materials and USD 71.1 billion of
resources. Besides, the functional areas include
articles made in iron and steel, accounting
Zhoushan Offshore area (79.0 sq. km), Zhoushan
together for more than 4% of the total exports. In
North area (15.6 sq. km), Zhoushan South area
the same period, the import of iron and steel
(25.3 sq. km), Ningbo area (46.0 sq. km),
materials amount to USD 36.2 billion, while the
Hangzhou area (37.5 sq. km), and Jinyi area
import of articles in iron and steel totaled USD 9.5
(36.0 sq. km).
billion, accounting together for 2.3% of total imports.
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billion. In addition to an average urban salary of China imports and exports of iron, steel, and
USD 11.122.
articles thereof in 2020 In terms of GDP, the Province of Shandong HS Chapter 72
ranked third in China after Jiangsu province,
Iron and steel: Exports 33.4 Billion USD / Imports
reaching USD 1,126 billion in 2020 and USD
36.8 Billion USD
1,021 billion in 2019 with a GDP per capita of USD 10.138. Along with GDP growth of +5.5% in
HS Chapter 73
2019 (5.5%) and +3.6% in 2020.
Articles of iron or steel: Exports 71.1 Billion USD / Imports 9.5 Billion USD
Main Economic Centers (GDP) in Shandong ▪
Qingdao (USD 169 billion)
Chapter 72 + Chapter 73: Exports 104.5 Billion
▪
Jinan (USD 136 billion)
USD / Imports 46.3 Billion USD
▪
Yantai (USD 110 billion)
▪
Weifang (USD 82 billion)
▪
Linyi (USD 66 billion)
Percentage of annual trade: Exports 4% and Imports 2.3%
Main Sectors in Shandong
Investing in Shandong Shandong is a coastal province located in Eastern China. An illustrious hub for the maritime economy and one of the largest producers of
▪
Automotive
▪
Domestic appliances
▪
Petrochemical
▪
Industrial machinery
agricultural, livestock, and fisheries goods. Main Industrial Areas in Shandong
Shandong province is also known as the most important production center for light and heavy industry in China. Jinan is the capital and the
▪
Shandong Pilot Free Trade Zone
▪
Qingdao Economic and Technological Development Zone
second-largest city in Shandong province after
▪
Qingdao. The Province of Shandong ranks as
Jiaozhou Economic and Technological Development Zone
China's second most populous with a population
▪
of 100.7 million inhabitants covering a total
Dongying Economic and Technological Development Zone
surface area of 157.100 km2.
▪
Yantai Economic and Technological Development Zone
Shandong province accomplished 30.73 foreign
▪
investment companies with a total export of USD
Weihai Economic and Technological Development Zone
161.5 billion and a total import of USD 134.8
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▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪
June 2021
Dezhou Economic and Technological
Implementation of the preferential income tax
Development Zone
policies for small and micro – enterprises and
Liaocheng Economic and Technological
individual industrial and commercial households”,
Development Zone
to further support the development of small
Jinan High-tech Industrial Development
businesses and to implement the decisions of the
Zone
State Council.
Qingdao High-tech Industrial Development Zone
The Announcement No. 12 slightly amended the
Yantai High-tech Industrial Development
previous Announcement No. 13 [2019] issued in
Zone
January 2019, by further reducing the tax burden
Weifang High-tech Industrial Development
for entities with a taxable income not exceeding
Zone
RMB 1 million.
Weihai High-tech Industrial Development
According to the Announcement No. 13 [2019],
Zone
small low profit companies with a taxable income
Jinan Comprehensive Bonded Zone
up to 3 million CNY, a number of employees not exceeding 300 and total assets not exceeding 50
(Shandong) Pilot Free Trade Zone
million CNY are eligible for a reduced tax rate of
Established in 2019 known as a major hub for
20% to be applied on 25% of the income up to 1
trading
Korea.
million CNY (leading to an actual tax rate of 5%
increase
on the first 1 million CNY of profit) and on 50% of
international trade and cooperation between
the portion of income exceeding 1 million CNY
China, Japan, and South Korea.
and up to 3 million CNY (leading to an actual tax
Creating
with a
Japan strategic
and
South
location
to
rate of 10% on this portion). The target industries are marine and maritime, financial services, artificial intelligence, medical
The new Announcement No. 12 [2021] will halve
and health care, information technology, logistics,
the tax burden on the part of income not
shipping, high-end manufacturing. Besides, the
exceeding 1 million CNY, leading to an actual tax
functional areas include Qingdao area (52.0 sq.
rate of 2.5% on this portion.
km), Jilin area (38.0 sq. km), and Yantai area
The new measure will be applicable from January
(30.0 sq. km).
1st, 2021 to December 31st, 2022.
Investing in Jiangsu
China's Small Company Tax 2.5% The
Ministry
of
Finance
and
the
Located in East China, Jiangsu is one of the most
State
economically developed provinces in China. With
Administration of Taxation have jointly issued the Announcement
No.
12
[2021]
“on
its capital in Nanjing known as the second-largest
the
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June 2021
city in the East China region. The Province of
Main Industrial Areas in Jiangsu
Jiangsu covers a total surface area of 102.600
▪
Jiangsu Pilot Free Trade Zone
km2 alongside a population of 80.7 million
▪
Suzhou Industrial Park
inhabitants. Jiangsu province is acknowledged to
▪
Nanjing
be a strong production base of industrial machinery
and
equipment,
▪
electronics,
The Province of Jiangsu is a hub for foreign▪
of FDI flowing into China. Accomplishing 59.308 ▪
of USD 394.8 billion and a total import of USD ▪
salary of USD 12.799. ▪
second in China after Guangdong province, ▪
1,431 billion in 2019 with a GDP per capita of ▪
2019 and +3.7% in 2020.
Main Economic Centers (GDP) in Jiangsu
Changzhou (USD 106 billion)
Economic
and
Technological
Haimen
Economic
and
Technological
Lianyungang Economic and Technological
Yangzhou Economic and Technological
Nanjing High-tech Industrial Development
Wuxi
High-tech
Industrial
Development
Zone ▪
▪
Nantong
Zone
USD 17,735. Along with GDP growth of +6.1% in
Nantong (USD 135 billion)
Taicang Port Economic and Technological
Development Zone
reaching USD 1,582 billion in 2020 and USD
▪
Technological
Development Zone
In terms of GDP, the Province of Jiangsu ranked
Wuxi (USD 170 billion)
and
Development Zone
234.7 billion. In addition to an average urban
▪
Economic
Development Zone
foreign investment companies with a total export
Nanjing (USD 202 billion)
Kunshan
Development Zone
invested enterprises among the main recipients
▪
Technological
Development Zone ▪
Suzhou (USD 276 billion)
and
Development Zone
petrochemicals, textiles, and new materials.
▪
Economic
Suzhou High-tech Industrial Development Zone
▪
Wuxi
High-tech
Zone
Comprehensive
Bonded Zone ▪
Wuzhong Comprehensive Bonded Zone
(Jiangsu) Pilot Free Trade Zone Established
Main Sectors in Jiangsu
in
2019
to
promote
regional
integration and development.
▪
New technologies
With a purpose to facilitate the cooperation with
▪
Industrial machinery
provinces and cities along the Yangtze River
▪
New materials
Economic Belt and the Yangtze River Delta.
▪
Automotive
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June 2021
The target industries are high-tech manufacturing,
China + 5.6% compared to future estimates for
financial services, robotics, international trade,
the United States and Europe
and commerce. Besides, the functional areas include Suzhou Industrial Park area (60.1 sq. km)
Record China in 2020
Jiangbei area (39.5 sq. km), and Lianyungang
China in the year of the health emergency
area (20.3 sq. km).
recorded a number of records in its development. In 2020 it recorded the largest volume of exports and the greatest value in trade with other
IMF confirms China's record growth
countries and has established itself as the first
The new estimates of the International Monetary
destination for foreign investments.
Fund in April confirm the record growth of the Chinese economy in the two-year period 2020-
According to Chinese Customs data, total imports
2021.
and exports of goods increased in 2020 to over 4.600 USD billion. Exports increased by 3.6%
Growth of the Chinese economy
with a trade surplus of approximately 535 USD
China is the only one of the major countries that
billion. Beijing achieved the largest trade in 2020
in 2020 (+ 2.3%) marked positive growth, will
with the countries of South East Asia (+ 6.7%)
continue its trend with + 8.4% in 2021 (+0.3
and with the European Union (+ 4.9%)
compared to January data) well above the prudential estimate of over 6% confirmed by the
Foreign investments
Party in the Two Sessions of Beijing.
Foreign Direct Investments (FDI) in mainland China increased by 6.2% to a record high of
According to the latest data, the Euro-zone will
999.98 billion yuan in 2020, according to
see gross domestic product (GDP) grow by 4.4%
estimates by the Ministry of Commerce.
in 2021 (+ 0.2% compared to January data), while Italy should grow by 4.2% in 2021 (+ 1.2%
The main investments were made in the high-
compared to January data).
tech industrial sectors and in the tertiary sector. Foreign investment in the service sector is
In the two-year period, Beijing grows well above
estimated at 776 billion yuan in 2020, up 14%
the average of the world economy (-3.3% in 2020
year-on-year and showing the trend of an
and
its
economy aiming for mature development. The
development with a series of records during the
high-tech industry has seen an increase in capital
pandemic. Also, for 2022 the International
flow from abroad by 28% with investment in
Monetary Fund expects a greater acceleration for
research and development increasing by 79%.
+6%
in
2021)
and
consolidates
11
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June 2021
Cities and provinces with the greatest growth In the geography of Chinese growth, the
The pandemic has helped accelerate Chinese
provinces with the highest GDP in 2020 were
growth with a series of economic records
Guangdong, Jiangsu, Shangdong, Zheijiang, and
testifying to its rise. The same International
Henan, while those with the highest growth are
Monetary Fund, which today confirms this
Tibet, Guizhou, Yunnan, Anhui, and Hebei. The
development, is waiting to overtake the United
cities with the highest GDP according to data
States, a moment in which it could move from
from the regional statistical institutes were
Washington to Beijing, because according to its
Shanghai with 3.9 billion yuan, followed by Beijing,
statute it must be based in the largest economy.
Shenzhen, Guangzhou, and Chongqing.
Guangdong
province,
where
115
million
Investing in Guangdong
inhabitants reside, is one of the nation’s main
The People’s Republic of China consists of 34
manufacturing centers and recorded the highest
provincial-level
regional GDP in 2020 with over 11 trillion yuan
which the Guangdong Province is known to be
(1.7 trillion dollars). Guangdong’s GDP in 2020
the main economic area of Southern China for
exceeded that of South Korea (fourth largest
international trade, for the production of electronic
economy in Asia) and came very close to the
and
value of Italian gross product.
technological innovation. Holding the largest
textile
administrative
products,
for
units,
among
research
and
number of FDI. With a population of 115.21 Air traffic and the new rich
million inhabitants covering a total surface area of
As evidence of the volume of trade and
177.900 km2, Guangdong ranks as the most
investment, Guangzhou Baiyun International
populous among all the provinces in China.
Airport was the busiest airport in the world in 2020,
Guangzhou is the capital of Guangdong Province
recording a total of 43.768 million passengers. it
with a maritime heritage located on Pearl River.
is the first time that a Chinese airport exceeds the
The historical Guangzhou port is the most
passenger volume of Atlanta, a long-time airport
important foreign trading port in South China.
with domestic and international traffic records. Pearl River Delta Economic Belt is a key region If the country’s industry is based in the south,
for the development of the Southern area of
there is no shortage of wealthy entrepreneurs in
China. With a purpose to trade with Southeast
the north. Beijing, in fact, according to the Forbes
Asian countries. Attained 13.1% of the national
2021 ranking is the city with the highest number
GDP growth alongside 11.7% of the population of
of billionaires in the world, surpassing New York
Mainland China encompassing 4.4% of the
in the global ranking.
national territory.
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June 2021
▪ Foreign investments are mainly located along the
Development Zone ▪
Eastern Coast and in Beijing. The Province of Guangdong
accomplished
170.968
Zhuhai Economic and Technological
foreign
Zhanjiang Economic and Technological Development Zone
▪
investment companies with total exports of USD 629.9 billion and total imports of USD 407 billion.
Huizhou Data Bay Economic and Technological Development Zone
▪
In addition to an average urban salary of USD 13.395.
Guangzhou High-tech Industrial Development Zone
▪
Shenzhen High-tech Industrial Park
In terms of GDP, the Province of Guangdong still
▪
Guangzhou Export Processing Zone
leads in China reaching USD 1,706 billion in 2020
▪
Guangzhou Bonded Logistics Park
and USD 1,547 billion in 2019 with a GDP per
▪
Guangzhou Nansha Free Trade Port Area
capita of USD 13,425. Along with GDP growth of
▪
Shenzhen Yantian Comprehensive Bonded
+6.2% in 2019 and +2.3% in 2020.
Zone ▪
Main Economic Centers (GDP) in Guangdong
Guangdong Shenzhen Export Processing Zone
▪
Shenzhen (USD 387 billion)
▪
Guangzhou (USD 339 billion)
(GUANGDONG) Pilot Free Trade Zone aims to
▪
Foshan (USD 154 billion)
deepen (Guangdong - Hong Kong - Macau)
▪
Dongguan (USD 136 billion)
cooperation and open up to the world by creating
▪
Huizhou (USD 60 billion)
an investment environment to comply with international standards. Also, promote the 21st
Main Sectors in Guangdong
Century Maritime Silk Road.
▪
Electronics
The target industries are shipping, logistics,
▪
Automotive
financial services, health, education, high-end
▪
Industrial machinery
manufacturing, international trade. Besides, the
▪
Logistics
functional areas include the Nansha area (60.0 sq. km), Hengqin area (28.0 sq. km), and Qianhai
Main Industrial Areas in Guangdong ▪
Guangdong Pilot Free Trade Zone
▪
Guangzhou Economic and Technological
Shekou area (28.2 sq. km).
Development Zone ▪
Guangzhou Nansha Economic and Technological Development Zone
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June 2021
China's Personal and Corporate Tax Planning
Events
Apr 24
EU-China Cooperation. Green Transition and Digital Economy Between National Policies and Multipolarism.
Trends in Banking and Fintech: a new global scenario after Covid 19 Apr 10
Jul 19 - 24
Structuring Business in China
China-Italy New Tax Treaty and International Taxation
Apr 9
Jun 3 Cancellation of Non-taxable Allowances for Foreign Employees
China and America - economy, trade and finance in North, Central and South America
Mar 31
May 25
China's Five-Year Plan & Tax Policy 2021-2025 China: a different reality
Mar 30
May 18
Structuring Business in China and the Far East Individual Income Tax What To Expect In 2022
Mar 6
May 14
Tax Planning in China CSCC Summer School Introduction
Feb 22
May 13
Asia-Pacific A to Z: Discover Every Market of the Fastest-growing Region
Taxation and Cross border e-commerce
Jan 26
May 12
Journey into China
China's Changing Role in Global Supply Chains May 11
Jan 9
Belt Road Journey - Xi’an 30 Apr – 6 May
14
RsA asia We are tax and corporate advisory firm assisting companies, multinational groups and institutions in the Asian region. Our organization has made service quality its distinctive feature through the experience and professionalism
of
our
advisors
who,
by
combining their skills and expertise, provide a wide range of tax, corporate and consulting services, both nationally and internationally. The firm brings a new approach to professional services; we like to do things differently and we strongly believe in the value of results. The firm combines a multidisciplinary vision and focus on different business sectors, providing tax and advisory services in the Far East.
www.rsa-tax.com info@rsa-tax.com